A new method of preparing paclitaxel (PTX) nanosuspension with EAK16-II peptide as a stabilizer is reported. It was found that PTX concentration in the resulting nanosuspension was about 20 times that from the PTX aqueous solution. The presence of EAK16-II significantly improved the PTX solubility in water due to the ionic-complementary structure of EAK16-II. Moreover the PTX-EAK nanosuspension exhibited great inhibitory effect on human lung cancer cells due to the high PTX concentration in the nanosuspension.